Casey: Investors Care More About Fed Than Syria

9/4/2013 10:56AM

Financial analysts might bleat about market nervousness over the likelihood of U.S. airstrikes against Syrian President Bashar al-Assad, but the brutal truth is that Wall Street doesn’t care about war. Right now, all it cares about is the Fed. Michael Casey reports.

This transcript has been automatically generated and may not be 100% accurate.

... was this morning are all about the Obama administration's attempts to punish Syria cited missed ration for its alleged use of chemical weapons ... while the markets are moving on the headlines here and uses the moment ... there's still only one thing that Mr. Market really cares about ... and that has not changed at all my Casey joins us today ... this is your horizons column I talking about ... to the drama around ... deadbeat Ramadan is a cause of the drowning really does matter what side he's here that debt by the same time ... really ... there is no real side had been playing on mobile which was the end of the care in a coal mine that would be there if ... people really will learn about the uncertainty associated ... with ... warn the Middle East would be ... in a rise in Treasury bond prices and activity of the ills of rising yields could be a ... new view of the same yields rise prices go down to see people on the fine trip is a fling them ... and that's because they really worried about something else we all know that this is well it's the it's the I mean it's just ... that the political really is just a set of highlighted how ... the really this is one of the of the aisle to taste because I mean we don't really have ... a new real Syria plank of the month is always these books back and forth ... but that ultimately ... um you know until we so Treasurys and the dollar move in the same direction ... oil moves he obviously ... for good reasons why ... but what do you plan as it has not been says with a seeming can anyone threat first Gulf War ... you really saw the markets move ... there isn't really related to science and Abby had to be ... in the city or dimension we've had him in the bombing of Libya couple years ago that the costs have Iraq war ... but actually if you look back at the key moments in the buildup to war the buildup to action ... he never really school decided against Iraqis if this oil prices to expect that because the new leases of the produce of people are the supply ... and the states would that affect the economy is can a white people but the fact the soil doesn't have the same importance economy used of course still has significant of holds on to say it's not relevant the back and I anyone erected a much bigger proportion of the economy ... and the unit price adjusted terms ... oil prices go much higher sodium in it where one hundred and fifteen and that's a Larissa who sustain this level you would stop to see some impact on the economy ... and therefore on the fit and therefore on investors' reactions ... um it it's it's just not the sort of thing that's really bothering people despite all the blather role of talk about it from my comment this brings the oil was seven he sold ten year yield ... yesterday go to to to nine one run as high as combat down a little bit ... but he is going up than that though the one incident he pointed out which of those awesome thing ... was when the stampede downgraded U S debt that it would cause an unprecedented they keep it ... on the safe haven flows new foray into ... treasures us yet I mean it is in it's going to really worry about it economic uncertainty will finance loans to be paid by Treasurys ... divide that by the dollar ... we so what are the scenes maybe ten him at that moment we saw it move in tandem of a sea of the Lehman collapse would be resort to the West but most of the euro crisis that threatens to limit who really panic that's what that's what happens so you know for all of the total value that was some concern yesterday ... about a new style Testament into radiant audits all currencies without a little bit and things move Iowa ... it out the visa very short term considerations people and really focused on the Fed right now and there will be on this month September and the media it's it's it that the taking ... maybe twenty twenty five billion dollars of online off the table ... that's a big deal it ... seems ... alright my Casey good stuff thanks alot ... to keep ...